Hewlett Packard Enterprise acquires Alicorn backed Axis Security
Hewlett Packard Enterprise (NYSE: HPE) announced that it entered into a definitive agreement to acquire Alicorn portfolio company Axis Security. This acquisition will allow HPE to expand its edge-to-cloud security capabilities by offering a unified Secure Access Services Edge (SASE) solution to meet the increasing demand for integrated networking and security solutions delivered as-a-service.
Axis Security’s Security Services Edge (SSE) platform addresses the need for improved application performance and increased network security as the number of remote users increases and as enterprises continue to migrate applications to the cloud.
Axis’ SASE product had continued its development into one of the leading technological solutions in the agentless ZTNA space, a space where incumbents like HPE, Palo Alto and others are moving quickly to build a competitive edge in.
An acquisition at close to half a billion dollars for a business of Axis’ current size was a testament to the criticality of the technology they had developed, and one of few acquisitions this size and at this multiple we expect to see at all in this current market environment.
The acquisition comes earlier than we had planned, only 15 months into our investment holding versus the 36 months we had anticipated. We wish the Axis management team all the best in the new leg of their journey!